I feel that exemption limit should be Rs.2 lacs and all exemption scheme should be withdrawn & Govt. should charges income tax flat @ 10% on income excesding Rs.2 lacs PA.
RE:Reduction in tax rate slab
by Divakar Hombalgatti on Feb 19, 2007 02:54 PM Permalink
I agree with this suggestion. If the exemption is increased to 2 lacs and 10% flat income tax is collected judiciously without any reservations, we will definitely have a better situation. Key is - tax for everyone, farmer, minister, employee, businessman, doctor, lawyer, hindu, muslim, scheduled caste, upper caste.... anybody who earns more than 2 lacs should be made to pay 10% tax.
